What's really staggering is your lack of comprehension. If you stumble across those contribution rates (doubtful) you might actually find a valid point. But you are right about one thing Boobie, I do get a bit touchy when clueless posters meet a keyboard and expose others to inaccurate ramblings. Any chance you could turn on your keen powers of investigation and provide us with some proof of your juvenile charges of "misinvested" pension funds. I didn't think so. Sadly, even ingrates such as yourself will one day benefit from the responsible actions of the men you denigrate on these anonymous forums but would pee your pants rather than speak up to their face.
710 Votes No - 3 to 1 margin
- Thread starter Addison Feeder Driver
- Start date
Booblebrown
Member
Hey "IN the UNION" I stand corrected, I do not have any proof of misinvested funds but even for a "ingrate" like myself the numbers dont add up. Since you require such a minimal return on your investment though, I would love to be your finacial advisor. I did get a 23% return on my investment in my 401k last year and thats not bad for a dumb truckdriving ingrate. I do realize a pension fund is not the same as a 401k, but just saying. But you are wrong about just one thing, I would speak my face anywhere and have and always will. This just happens to be the only media source we have. And for some reason the union feels everything posted in social media is inaccurate but in reality its the voice of the members. Just seems that nobody in Mokena wants listen to what their members really want.
Addison Feeder Driver
Well-Known Member
The 710 pension money wasn't misinvested. Look at 705, theirs is in red status and was misinvested. Until our pension is fully funded there is no way to lessen the contribution or increase the pension payments. Every meeting somebody gets on the mic asking for higher pension payments and every meeting they explain the same thing over and over.
Everybody should be investing in their own 401k.
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Everybody should be investing in their own 401k.
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710 steward
Well-Known Member
This is in response for "In the Game"
I have read and reread the initial response from Booblebrown and in no way did he initiate the response he received from you. He definitely singled you out but made nothing personal like you childishly lashed out. I do agree with him that you are somehow connected with our current slate. Otherwise you wouldn't react the way you do.
Let me correct you on a couple of things my "old" friend. Pat is most certainly a person that hides. Ever been to a monthly meeting? He has more security lined up against the wall than than the Governor. People.who have nothing to hide don't need security lined up halfway across both sides of that room. He blames all of his current problems on the social media and insists that he won't be a part of that but it's ok for his son and various trustees to take part in the evil social media. So those people aren't showing him what's being said? You may be on here defending your rock star but you are still anonymous here. Your fearless leader says you are part of the problem. After all you my "old" friend are in the social media.
Most of can read and add. What has happened or in this case has not happened with the pension doesn't add up. We as Teamsters are a pay as you go pension fund. Unlike the UAW who back doors the fund they negotiate. The money is paid until one is no longer with their respective company. So if you leave your job early it is supposed to grow through interest until it can be collected at I believe 65 years of age. If I am wrong than the age is 62. Either way that money was prepaid. Their is a lot wrong with the fund and the math doesn't add up. It's time for change my brothers and sisters these 60 somethings running things.only know how to try to bully and fear monger.
I have read and reread the initial response from Booblebrown and in no way did he initiate the response he received from you. He definitely singled you out but made nothing personal like you childishly lashed out. I do agree with him that you are somehow connected with our current slate. Otherwise you wouldn't react the way you do.
Let me correct you on a couple of things my "old" friend. Pat is most certainly a person that hides. Ever been to a monthly meeting? He has more security lined up against the wall than than the Governor. People.who have nothing to hide don't need security lined up halfway across both sides of that room. He blames all of his current problems on the social media and insists that he won't be a part of that but it's ok for his son and various trustees to take part in the evil social media. So those people aren't showing him what's being said? You may be on here defending your rock star but you are still anonymous here. Your fearless leader says you are part of the problem. After all you my "old" friend are in the social media.
Most of can read and add. What has happened or in this case has not happened with the pension doesn't add up. We as Teamsters are a pay as you go pension fund. Unlike the UAW who back doors the fund they negotiate. The money is paid until one is no longer with their respective company. So if you leave your job early it is supposed to grow through interest until it can be collected at I believe 65 years of age. If I am wrong than the age is 62. Either way that money was prepaid. Their is a lot wrong with the fund and the math doesn't add up. It's time for change my brothers and sisters these 60 somethings running things.only know how to try to bully and fear monger.
slantnosechevy
Well-Known Member
slantnosechevy
Well-Known Member
What a hilarious post....get that tin foil hat on good and tight!! Your post shows your immaturity and your ignorance.
You're a funny one...you and your new best friend are wrong again as I've never been to a L710 mtg cause I'm not in L710. If Flynn is pissed at social media it's because of posters like you and Booble rambling on about subjects and issues you have no experience in. You have little understanding of how pensions run and their long term value. You've bought the bull from corporate masters that convinced you to accept the individual risk of a 401 rather than the shared pooled risk (that is greatly mitigated by structure) of defined benefit pensions.
There's little "wrong' with an 88% funded plan and nothing wrong with the math.
Addison Feeder Driver
Well-Known Member
I agree with the fact that our pension isn't mishandled. People have unrealistic expectations. I'm happy that the fund is green after the market has been fluctuating. You couldn't get Pat Flynn out of office if you tried. I support Pat and he is one of the top ranked Teamsters in the country. He is right behind hall. He is powerful enough that he took 705's freight negotiations away from Pocztowski a few years back.
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710 steward
Well-Known Member
Hey Game
When you buy something and the clerk says here is 88% of your change do you smile and say thanks?
Nobody in corporate convinced me of anything. I am just tired of watching my contributions go to levels that would make me and everyone working today turn into millionaires. In the meantime the people that retired before us received a monthly check that was higher than what they contributed. The only reason you feel the way you do my "old" friend is because you claim to be collecting.
When you buy something and the clerk says here is 88% of your change do you smile and say thanks?
Nobody in corporate convinced me of anything. I am just tired of watching my contributions go to levels that would make me and everyone working today turn into millionaires. In the meantime the people that retired before us received a monthly check that was higher than what they contributed. The only reason you feel the way you do my "old" friend is because you claim to be collecting.
Booblebrown
Member
Well, I don't have any proof that 705 is in red status but there are teamster pensions in the black paying out 60k a year for 30 years. We are nowhere close. I agree that putting in a 401k is a great idea, but now it appears our pension has become somewhat of a question mark, just like social security. I am 50 years old and when i started here I pretty much wrote off the thought of recieving any social security benefits at retirement. Now, having invested a ton of money in 710 pension, I have to wonder if that will be there,or if so at what amount, so I' have to also have a 401k. Thats what non profitable non union companies have to do. That shouldn't be a must for us. When we started here Addi Feeder, We did not have to supplement our retirement
Addison Feeder Driver
Well-Known Member
I have 14 years in 705. My last pension statement said orange or red status. I have to go find it.
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As far as "in what avenue money that can be wrangled from UPS should go" is concerned . . .
My hierarchy of preference regarding where money should go is:
1st: my pay check
2nd: my 401(k)
3rd: union pension fund
Essentially I trust myself to set aside, and be a good steward of, my own assets more than I trust the hands of others. If the locus of control is myself I have high confidence that the 30% a week of my gross pay that I have been transferring to my online brokerage account for more than five years now and investing in the SPDR S&P 500 Trust ETF (NYSE: SPY) will be extant and liquid (id est: in a state of existing just as the numbers on the statement say and free from any encumbrance, for me to access and move at will) when I need/want it. As I descendingly work my way through the above hierarchical list I see my confidence in one or both of those factors degrading.
There are many other places where money goes, but of those three, that is how I stand.
My hierarchy of preference regarding where money should go is:
1st: my pay check
2nd: my 401(k)
3rd: union pension fund
Essentially I trust myself to set aside, and be a good steward of, my own assets more than I trust the hands of others. If the locus of control is myself I have high confidence that the 30% a week of my gross pay that I have been transferring to my online brokerage account for more than five years now and investing in the SPDR S&P 500 Trust ETF (NYSE: SPY) will be extant and liquid (id est: in a state of existing just as the numbers on the statement say and free from any encumbrance, for me to access and move at will) when I need/want it. As I descendingly work my way through the above hierarchical list I see my confidence in one or both of those factors degrading.
There are many other places where money goes, but of those three, that is how I stand.
UpstateNYUPSer(Ret)
Well-Known Member
KJEZ, I want you to go in to work tomorrow morning and look around during the PCM at your co-workers and ask yourself how many of them would be able to survive their retirements without a defined pension benefit plan.
BTW, you contradict yourself in your post. You say that you trust yourself more than others to handle your money yet you allow the folks at SPDR to manage your investments for you.
Pension fund investment managers do a much better job than most of you give them credit for. No one could have predicted the economic downturn of 2008 and the effect it would have on our funds but for the most part those losses have been recouped and significant gains have been made.
I am very confident that my pension will be there in 2019 and throughout my retirement.
BTW, you contradict yourself in your post. You say that you trust yourself more than others to handle your money yet you allow the folks at SPDR to manage your investments for you.
Pension fund investment managers do a much better job than most of you give them credit for. No one could have predicted the economic downturn of 2008 and the effect it would have on our funds but for the most part those losses have been recouped and significant gains have been made.
I am very confident that my pension will be there in 2019 and throughout my retirement.
Anonymous 12
Non active member
en.wikipedia.org/wiki/Kumbaya
Come By Here / Kum Ba Ya / Kumbaya transcribed by the United States Library of Congress from a 1926 recording.
History - Lyrics - Recordings - Melody borrowing
Anonymous 12
Non active member
No I was just trying to post a link. How do you you do a video??
Anonymous 12
Non active member
Where do you find the video URL.
UpstateNYUPSer(Ret)
Well-Known Member
I am saying that if left to their own resources most of them would end working until the day they die.
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